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WTI Options Liquidity During Non-U.S. Hours

Highlights:

  • Over 80% of WTI Options (LO) have traded electronically for almost 3 years straight
  • LO volume continues to be driven by spread trading—a record 59% of LO volume was executed via spreads in March 2020
  • A record 21% of WTI Options are being traded overnight YTD in 2020 with ETH ADV at 31k
  • LO ADV traded during London Morning Hours is at 21k YTD, with a record 14% of total ADV executed during this time frame each day

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New Expiration Rules for Brent Options

Highlights:

Brent Crude Oil options (BZO) will be auto-exercised with no contrary instructions allowed beginning with the March 2020 contract expiration on NYMEX. The new options expirations rules allow a simpler and more transparent expiration process for traders hedging the volatile crude oil market.

For More Information:    

Clearing CME Globex Floor CME ClearPort Product Name Subgroup Exchange Volume Open Interest
LN LNE - LN Natural Gas Option (European) Natural Gas NYMEX 74,414 3,124,975
LO LO - LO Crude Oil Option Crude Oil NYMEX 55,619 2,014,892
ON ON - ON Natural Gas Option (American) Natural Gas NYMEX 4,725 43,413
LO1 LO1 - LO1 Crude Oil Weekly Options - Week 1 Crude Oil NYMEX 2,652 6,284
BV ABV - BV WTI-Brent Crude Oil Spread Option Crude Oil NYMEX 1,900 177,005
OH OH - OH NY Harbor ULSD Option Refined Products NYMEX 762 12,277
G4 G4X - G4 Natural Gas (Henry Hub) Last-day Financial 1 Month Spread Option Natural Gas NYMEX 500 98,075
MCO MCO - MCO Micro WTI Crude Oil Option Crude Oil NYMEX 201 861
LO2 LO2 - LO2 Crude Oil Weekly Options - Week 2 Crude Oil NYMEX 185 678
BZO BZO - BZO Brent Crude Oil Futures-Style Margin Option Crude Oil NYMEX 164 66,577
Trade Date: 27 Jun 2022 | FINAL

Note: Volume and Open Interest data is from the previous trade date. Preliminary data updates at approximately 9:00 p.m. CT and the final update is at 10:00 a.m. CT next business day.

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